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for the obama white house waging what has been an uphill battle against unemployment. this week the labor department reported the jobless rate fell sharply in september to 7.8%. that's the same level it was when president obama took office back in january 2009. actual growth last month was modest, only 114,000 jobs created. but the labor department also revised the july and august numbers to include an additional 86,000 new jobs. let's talk about it with the former white house chief economist austin goulsby. austin, thanks very much for coming in. what does this jobs report mean to you? >> well, i think it's a good sign. you know when i was in the white house i used to say every month good or bad, you never want to make too much out of any one month's numbers because it's plus or minus 100,000 jobs is the margin of error. so there's a lot of variability. >> what does that mean? >> this is a solid report. >> when you say plus or minus margin of error of 100,000 jobs, in other words if 114,000 jobs were created last month, it really could have 214,000 or it could have been 14,000? >> or 14,
Search Results 0 to 1 of about 2 (some duplicates have been removed)